Ericsson Sells Patents to Unwired Planet
Unwired Planet announced Thursday that has purchased 2,185 patents from the Ericsson, 753 of which are U.S. patents related to 2G, 3G and LTE technologies.
According to the statement, the deal also stipulates Ericsson will contribute another 100 patents a year to Unwired Planet, from 2014 to 2018. In return, Unwired Planet will compensate Ericsson with "certain ongoing rights in future revenues generated from the enlarged patent portfolio" as well as "grant Ericsson a license to the company’s enlarged patent portfolio."
According to the SEC filing, Unwired Planet will pay Ericsson "20 percent of the amount of Cumulative Gross Revenue, until the Cumulative Gross Revenue equals $100 million; plus 50 percent of the amount of Cumulative Gross Revenue in excess of $100 million, until the Cumulative Gross Revenue equals $500 million; plus 70 percent of the amount of Cumulative Gross Revenue in excess of $500 million."
Unwired Planet currently holds 202 U.S. and foreign patents with another 75 pending.